Pension and Other Postretirement Benefits

9 Months Ended

Jan. 31, 2023

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Pension Costs

The following table shows the components of the net cost recognized for our U.S. pension plans. Similar information for other defined benefit plans is not presented due to immateriality.

	Three Months Ended				Nine Months Ended
	January 31,				January 31,
(Dollars in millions)	2022		2023		2022		2023
Service cost	$	7	$	5	$	20	$	16
Interest cost	5		8		16		24
Expected return on plan assets	(11)		(11)		(34)		(33)
Amortization of:
Prior service cost	—		—		1		1
Net actuarial loss	6		2		18		7
Settlement charge	—		27		1		27
Net cost	$	7	$	31	$	22	$	42

During the three months ended January 31, 2023, we recognized a pension settlement charge of $27 million, triggered by fiscal year-to-date lump-sum payments under certain pension plans surpassing total annual service and interest cost for those plans.